RALEIGH METAL RECYCLING
METAL COMMODITIES AND RECYCLING REPORT
APRIL 27TH, 2015
2310 GARNER ROAD
RALEIGH, NC, 27610
|Raleigh Metal Recycling Steel Prices|
The low euro along with dynamics such as the continuing decline in the oil rig count, continue to put pressure on steel production and prices.
Last week the oil rig count fell for the 20th week in a row. At the current 704 rigs, it is 56% below last October’s high of 1,609.
|Baker Hughes - US Oil Rig Count Graph|
Oil, though, is now up about 18% from the lows of a few months ago, so this rapid oil rig decline should be slowing soon.
On the positive side, with auto production strong and with construction in the U.S. getting a bit better, steel production is off its lows.
|AMM - Steel Production Graph|
Copper had some highs and lows last week, but remains in a range for the past 6 weeks and is about $2.76 per pound this morning.
|Raleigh Metal Recycling Copper|
Aluminum traded in a similar way last week and is about where it was two months ago.
|Raleigh Metal Recycling, Copper|